But if you have the cash or can pull it from another account or can get a gift for the down payment.

Explain your concerns about the property's flood zone status and see if they are willing to release your deposit or reduce the sale price to account for the potential risks and lower property values associated with it.While $5K isn't a trivial amount, sometimes avoiding a much bigger headache down the road is worth the loss.

Sometimes it is very difficult to reconstruct your depreciation schedule without the help of your prior accountant but still potentially possible.

You should have had a conversation with an accountant prior to going ahead with the cost segregation study.A cost segregation study breaks down a building to more components than just building and land.

2) Do they provide you with easy access to accounting records?

Just be sure to account for the upfront costs, ongoing maintenance, and market demand to make sure the numbers work for you.Good luck with your decision, and feel free to share updates as you move forward!

Holds you accountable and kinda forces you to work it. 

When accounting for carrying time on the bridge debt, taxes and insurance or alternatively over raising equity to take down the land, the costs add up quickly.  

. - any cost accounted for prior to permit) should be considered as equity in the deal once ready to build. 

Regardless, make sure you have appropriate reserves built in so at the very least your future vacancies, repairs, and capital expenditures are covered right away.While the cash on cash method does not take into account amortization or appreciation, I think it's the best way to measure a property's profile tangibly in the near-term.